The growing demand for Cross-linked Polyethylene in the wires and cables applications, along with the increased infrastructure development, will boost the market growth.
Market Size – USD 6.64 Billion in 2019, Market Growth – CAGR of 6.26%, Market Trends – High demand for insulation of wires and cables.
The global Cross-Linked Polyethylene Market is forecast to reach USD 10.77 Billion by 2027, according to a new report by Reports and Data. It is cross-linking polyethylene results in higher molecular weight of the polyethylene, which further helps in better abrasion resistance, thermal resistance, and impact strength. The cross-linked polyethylene shows better resistance to environmental stress cracking, without any loss in its tensile strength.
The cross-linking aided the use of polyethylene in the coating power cable. The properties are enhanced to higher operating temperature in electrical applications—the thermosetting nature of cross-linked polyethylene results in them not melting in heating. The temperature resistance is the essential property of Cross-Linked Polyethylene.
The high demand in the piping systems, water service lines, and heating and cooling systems will be a significant avenue of growth for the market. The rapid replacement of copper pipes and tubes by the use of Cross-linked Polyethylene is due to the high flexibility, more excellent corrosion resistance, and the ability to operate at higher temperature ranges. The rise in demand for weather, moisture, and temperature resistant materials in the plumbing sector will be a key growth factor in the market.
In the plumbing sector, it is being observed that their polypropylene counterparts are replacing the Cross-linked Polyethylene pipes. The shift is due to the governmental regulations over the VOC content and organic carbons. The change is also owing to the chance of leakage in the pipes.
Key participants include Arkema Group, The Dow Chemical Company, PolyOne Corporation, Solvay, Borealis AG, Akzo Nobel N.V., LyondellBasell Industries NV, Borealis AG, Armacell GmbH., and Vanderbilt Chemicals LLC, among others.
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The COVID-19 impact:
The covid-19 situation has affected significant supply chains and has led to production cuts in major industries. The infrastructure development has seen a decline due to the pandemic. The stay at home regulation and social distancing norms are impacting construction activities, which has resulted in low plumbing operations. The market has seen a significant decline in demand due to the pandemic. The economic slowdown will further impact infrastructure development and will bring major issues for the market. It is essential to put strict economic reforms by the government in place, which may result in a swift recovery of the Cross-linked Polyethylene market.
Further key findings from the report suggest
- In the automotive sector, it is used in the insulation of wires and cables, which are used for manufacturing. The chemical industry employs Cross-linked Polyethylene to store material, which can cause corrosion on damage to conventional thermoplastics—the present industries areas of lucrative growth over the coming years.
- The Asia Pacific led the market, with a market share of over 40%, and will register rapid growth over the coming years. The rising industrialization, increasing construction activities, and demand for electrical appliances will bring growth for the market. China is considered as a hub for electrical products. The high voltage resistant nature off Cross-linked Polyethylene helps in the widespread adoption of this technology in the region.
- The wires and cables segment is expected to grow at the highest pace. It can work at voltages up to 35 Kv, it is weather-resistant, and offers many more technical advantages over other materials. The high dielectric strength and low electric conductivity make it an outstanding insulator for power cables.
- The peroxide segment resulted in the highest market share over the forecast period. The process is extensively used as it offers the highest degree of cross-linking in the plastics. The process adds on to the resistance provided by the material against stress cracking and chemicals. The peroxide process results in excellent processability, low dielectric loss, and high breakdown strength.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cross-linked-polyethylene-market
For the purpose of this report, Reports and Data have segmented into the global market on the basis of Product Type, Technology, Application, and region:
Product Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Other types
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Silane Grafting
- Electron Beam Processing
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- Wires and Cables
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Cross-linked Polyethylene Market Segmentation & Impact Analysis
4.1. Cross-linked Polyethylene Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver’s analysis
22.214.171.124. Increasing Technology in insulation of wires and cables
126.96.36.199. Growth in the construction industry
4.2.3. Market restraints analysis
188.8.131.52. Government regulations regarding the VOC content
184.108.40.206. Plumbing failure
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Arkema Group
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. The Dow Chemical Company
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
10.2.4. Strategic Initiatives
10.3. PolyOne Corporation
10.3.1. Company Overview
10.3.2. Financial Performance
10.3.3. Technology Insights
10.3.4. Strategic Initiatives
10.4.1. Company Overview
10.4.2. Financial Performance
10.4.3. Technology Insights
10.4.4. Strategic Initiatives
10.5. Borealis AG
10.5.1. Company Overview
10.5.2. Financial Performance
10.5.3. Technology Insights
10.5.4. Strategic Initiatives
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